Senate Banking Committee member Pat Toomey (R-Pa.) said Monday he intends to take up digital currency regulation and payments system reform if he becomes the committeeÃ¢ÂÂs next chairman.
- Ã¢ÂÂThereÃ¢ÂÂs very exciting things happening in technology, fintech, payment systems, the possibility ofÃÂ a digital currency Ã¢ÂÂ all of these things are really important and exciting changes and theyÃ¢ÂÂre going to require some new legislation, some new regulation,Ã¢ÂÂ Toomey said.
- Toomey is the likely pick for the Banking committee chairmanship if Republicans maintain control of the chamber this November.ÃÂ
- A former Wall Street banker and longtime proponent of deregulation, Toomey has praised blockchain in the past. He once said the government shouldnÃ¢ÂÂt Ã¢ÂÂstrangle this baby in its crib.Ã¢ÂÂ
- The two-term senator also disclosed Monday he will not seek reelection in highly competitive Pennsylvania in 2022.ÃÂ
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